Monday, February 8, 2016

The issue of sovereignty has been much discussed in respect of the TPP. Long
experienced trade negotiator and former minister Hon Phil Goff spells out the
essence of sovereignty, in this context, most usefully:

“Every time you sign any international agreement you give away a degree of
your sovereignty.” He cited the China free trade deal negotiated when he was
Trade Minister.

“We gave up the sovereign right to impose tariffs against China when we
signed up to the China free trade agreement. But it came with quid pro quos.
China gave up its right to impose huge tariffs on us.

“That’s what an international agreement is; it’s an agreement to follow a
particular course of action and a limitation on your ability to take action
against the other country.

“You have the ultimate right of sovereignty that you can back out of an
agreement – with all the cost that that incurs.”